Divisar Capital Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Divisar Capital Management LLC reported 29 stock positions worth $384.5 million. Its top holding was Vimeo (VMEO) at 9.6% of the portfolio, followed by Adtran (ADTN, 7.8%) and Kulicke & Soffa Industries (KLIC, 7.6%). Compared with Q4 2024, it opened 1 new position, sold out of 2, added to 15 and reduced 12. The biggest buy was Polaris (PII, shares +300%) and the biggest sale Lumentum (LITE, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001645721
- Portfolio Value
- $384.5M (Q1 2025)
- SEC Filing
- 0001645721-25-000014 ↗ filed May 15, 2025
Holdings Value
Holdings 29 stocks · $384.5M
| VMEO Vimeo Inc. | 9.64% | 7,047,310 | $37.1M | Add +19.9% |
| ADTN Adtran Holdings Inc. | 7.78% | 3,428,863 | $29.9M | Reduce -28.7% |
| KLIC Kulicke & Soffa Industries | 7.57% | 882,289 | $29.1M | Add +24.6% |
| FARO Faro Technologies Inc. | 6.68% | 941,283 | $25.7M | Reduce -31.7% |
| LITE Lumentum Holdings Inc. | 6.40% | 394,506 | $24.6M | Reduce -13.8% |
| UCTT Ultra Clean Holdings Inc. | 5.76% | 1,033,935 | $22.1M | Add +1.2% |
| MCFT Mastercraft Boat Holdings Inc. | 5.26% | 1,175,045 | $20.2M | Add +16.7% |
| OEC Orion SA | 5.24% | 1,558,277 | $20.1M | Add +27.4% |
| PII Polaris Inc. | 5.11% | 479,639 | $19.6M | Add +299.7% |
| BC Brunswick Corp. | 4.84% | 345,693 | $18.6M | Add +26.7% |
| RXO Rxo Inc. | 4.55% | 915,942 | $17.5M | Add +7.8% |
| CALX Calix Inc. | 4.25% | 460,765 | $16.3M | Reduce -22.5% |
| CMRC Commerce.com Inc. filed as BIGCOMMERCE HLDGS INC | 3.97% | 2,652,461 | $15.3M | Add +41.7% |
| LASR Nlight Inc. | 3.04% | 1,504,092 | $11.7M | Reduce -13.6% |
| ZUMZ Zumiez Inc. | 2.95% | 761,879 | $11.3M | Add +10.1% |
| PDFS PDF Solutions Inc. | 2.72% | 547,210 | $10.5M | Reduce -11.8% |
| SFIX Stitch Fix Inc. Class A | 2.23% | 2,635,501 | $8.6M | Add +15.1% |
| ANF Abercrombie & Fitch Co. Class A | 2.17% | 109,017 | $8.3M | Add +218.8% |
| COHU Cohu Inc. | 1.49% | 389,894 | $5.7M | Reduce -10.7% |
| BOX Box Inc. Class A | 1.38% | 171,743 | $5.3M | Reduce -52.8% |
| NVRI Enviri Corp. | 1.14% | 659,841 | $4.4M | Reduce -38.3% |
| MKFG Markforged Holding Corp. | 1.03% | 847,088 | $4.0M | Add +15.7% |
| OLO Olo Inc. Class A | 1.02% | 647,900 | $3.9M | Add +547.9% |
| CIVI Civitas Resources Inc. | 0.94% | 103,082 | $3.6M | No change |
| FN Fabrinet | 0.84% | 16,340 | $3.2M | Reduce -26.9% |
| ONTO Onto Innovation Inc. | 0.73% | 23,088 | $2.8M | Add +128.9% |
| SQNS Sequans Communications S A | 0.55% | 1,014,253 | $2.1M | Reduce -8.4% |
| FNKO Funko Inc. Class A | 0.46% | 256,700 | $1.8M | New |
| TLYS Tilly's Inc. Class A SHRS | 0.29% | 503,290 | $1.1M | Reduce -60.3% |
Portfolio Sells Q4 2024 → Q1 2025
| LITE Lumentum Holdings Inc. | Reduce -13.8% | 6.40% | −1.95 |
| BOX Box Inc. Class A | Reduce -52.8% | 1.38% | −1.11 |
| COHU Cohu Inc. | Reduce -10.7% | 1.49% | −1.04 |
| COHR Coherent Corp. | Sold out | 0.00% | −0.94 |
| PDFS PDF Solutions Inc. | Reduce -11.8% | 2.72% | −0.93 |
| LASR Nlight Inc. | Reduce -13.6% | 3.04% | −0.92 |
| ADTN Adtran Holdings Inc. | Reduce -28.7% | 7.78% | −0.91 |
| FARO Faro Technologies Inc. | Reduce -31.7% | 6.68% | −0.90 |
| TLYS Tilly's Inc. Class A SHRS | Reduce -60.3% | 0.29% | −0.88 |
| NVRI Enviri Corp. | Reduce -38.3% | 1.14% | −0.65 |
| FIX Comfort Systems USA Inc. | Sold out | 0.00% | −0.38 |
| SQNS Sequans Communications S A | Reduce -8.4% | 0.55% | −0.28 |
| CALX Calix Inc. | Reduce -22.5% | 4.25% | −0.25 |
| FN Fabrinet | Reduce -26.9% | 0.84% | −0.23 |
Portfolio Buys Q4 2024 → Q1 2025
| PII Polaris Inc. | Add +299.7% | 5.11% | +3.61 |
| CMRC Commerce.com Inc. | Add +41.7% | 3.97% | +1.49 |
| VMEO Vimeo Inc. | Add +19.9% | 9.64% | +1.47 |
| MCFT Mastercraft Boat Holdings Inc. | Add +16.7% | 5.26% | +1.09 |
| ANF Abercrombie & Fitch Co. Class A | Add +218.8% | 2.17% | +1.06 |
| OEC Orion SA | Add +27.4% | 5.24% | +1.05 |
| BC Brunswick Corp. | Add +26.7% | 4.84% | +1.01 |
| OLO Olo Inc. Class A | Add +547.9% | 1.02% | +0.85 |
| MKFG Markforged Holding Corp. | Add +15.7% | 1.03% | +0.53 |
| FNKO Funko Inc. Class A | New | 0.46% | +0.46 |
| KLIC Kulicke & Soffa Industries | Add +24.6% | 7.57% | +0.40 |
| ONTO Onto Innovation Inc. | Add +128.9% | 0.73% | +0.36 |
| RXO Rxo Inc. | Add +7.8% | 4.55% | +0.15 |
| SFIX Stitch Fix Inc. Class A | Add +15.1% | 2.23% | +0.09 |
| ZUMZ Zumiez Inc. | Add +10.1% | 2.95% | +0.07 |
| UCTT Ultra Clean Holdings Inc. | Add +1.2% | 5.76% | −2.22 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 28 | $434.0M | ONTO, PII, MKSI, BC, KLIC |
| Q1 2026 | 26 | $392.4M | ONTO, UCTT, PII, BC, LITE |
| Q4 2025 | 26 | $355.9M | ONTO, LITE, ADTN, PII, UCTT |
| Q3 2025 | 25 | $367.6M | LITE, ADTN, UCTT, PII, KLIC |
| Q2 2025 | 26 | $432.3M | ADTN, LITE, VMEO, KLIC, UCTT |
| Q1 2025 | 29 | $384.5M | VMEO, ADTN, KLIC, FARO, LITE |
| Q4 2024 | 30 | $460.7M | ADTN, LITE, VMEO, UCTT, FARO |
| Q3 2024 | 31 | $542.1M | UCTT, LITE, VMEO, KLIC, ADTN |
| Q2 2024 | 34 | $527.8M | LITE, UCTT, KLIC, VMEO, ADTN |
| Q1 2024 | 34 | $520.5M | UCTT, LITE, KLIC, FARO, VMEO |